One thing is a fact, no one has warned us that taking care of financial life would be so challenging in adulthood. If there is no discipline and organization, the accumulation of failures or pending issues can bring serious problems.
Precisely to help you face this challenge with more tranquility and quality, we have created a list of measures that can revolutionize your economic management. Some of the habits that can improve your financial life are:
- use automatic debit;
- avoid installments;
- create an emergency reserve;
- invest part of the salary;
- organize general expenses;
- track your credit card statement;
- set clear goals.
If you want to know how to structure family planning style=”font-weight: 400;”> intelligent and practical, we recommend reading this other article here, which brings many tips and the main steps of the process.
Now, keep following this post to see in detail what habits can improve your financial life. Good reading!
What is financial health?
Before exploring what habits can improve your financial life, let's understand better what financial health is about and how important it is to preserve it.
Roughly speaking, as the name suggests, financial health is the state of fullness of the savings of an individual or group (family).
This condition measures issues such as the compatibility between expenses and earnings, the existence of a security reserve, the management of a pension plan, and so on.
All of this, with the objective of financial independence. In other words, behavior, habits (daily, weekly and monthly), planning and financial goals are rigorously analyzed to qualify an economic reality.
Therefore, financial health involves much more than the volume of income or assets; it is related to all customs that directly or indirectly affect capital and the realization of a subject's economic objective.
What habits can improve your financial life?
Having affirmative financial health is synonymous with security, which is why its structuring and preservation are indispensable.
The sequence of some specific actions can help you to achieve this state of fullness with more tranquility. Check below which habits can improve your financial life and optimize your income.
Use direct debit
The first habit we are going to explore is the use of automatic debit. Whenever possible, use this payment method for your monthly bills.
In addition to practicality, automatic debit avoids delays, and, consequently, the waste of money on fees and fines. Therefore, it is a way to preserve your capital and optimize your income.
One tip is to set the dates for the debit, considering the day of receipt. Thus, the lack or insufficiency of capital on account will not be a problem and other expenses can be managed in a more pragmatic way.
A custom that should be avoided is installment payment. From our list of “What habits can improve your financial life”, this is perhaps the most challenging one to follow.
This is because the ease that this payment method offers is an outrageous benefit, but this is not always an advantage for your financial health.
In addition to committing your budget for months, installment payment is a debt that swallows up part of its capital with abusive interest rates or maintenance fees.
Therefore, always choose to save, add the amount and make payments in cash.
Create an emergency reserve
Another important habit to invest in your financial health is structure a fund or emergency reserve.
To be effective, this savings must add up to 6 to 12 months of income from home providers. This can take some time, so savings should be routine.
In addition to being decisive for unforeseen situations, such as accidents, unemployment, setbacks, among others, by offering quality of life protection, the emergency reserve also avoids the request for loans bank accounts.
Invest part of the salary
Investing part of your salary is also an interesting measure to optimize the return on your capital.
Be on financial markets (in stocks, real estate funds, Certificate of Deposit, etc.), private pension, extra income activities, and so on.
From our list of habits that can improve your financial life, this habit is one that brings the possibility of acquiring financial returns.
This habit is basic, without it none of the other measures will reach their maximum potential. The organization of earnings and expenditures must be the first step in any financial initiative.
Whether through spreadsheets, tables, applications, management software, or whichever tool is chosen, this control must be carried out carefully and with great responsibility.
Issues such as fixed expenses (rent, condominium, electricity, water, internet, gas, school fees, among others), variable expenses, debts, financial goals, and so on, should be considered.
In this way, the definition of the values of each application, the dates, the destinations and the deadlines, is made with more security and quality.
Track your credit card statement
Another habit to improve your financial life that deserves attention is the control of the credit card<span style=”font-weight: 400;”>. Although it is a convenient and convenient form of payment, it can be dangerous!
Fortunately, practically all banks have auxiliary tools to monitor usage transactions, such as internet banking or SMS notification system.
In addition to facilitating the monitoring of expenses, preventing the limit from being exceeded, it is still a way to protect your account from possible fraud, duplicate payments, undue chargebacks, among others.
Set clear goals
Finally, the last item on our list of “What habits can improve your financial life” is the definition of goals.
This because the biggest motivator behind any change is its purpose, regardless of size or timeframe. That is why it is essential to define it clearly.
Be it the exchange of a car, the purchase of a house or apartment, the realization of a trip abroad, the settlement of an old debt, the beginning of a professional course, the creation of a private fund, the organization of a special event; the options are limitless.
Keeping that dream in mind, it is easier to comply with the savings set monthly.
Therefore, we can conclude that investing in the management of your finances it is fundamental to achieve goals, and the paths are diverse.
Make a good analysis of your current economic reality, study the measures explored in this post and choose which habits can improve your financial life with more expressiveness and start right now. Your dream cannot wait!
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